On May 20, the French paper machine and equipment manufacturer Allimand announced its effective exit from its safeguard plan, marking “a decisive step in the consolidation of its redeployment.” Furthermore, this development is taking place “with a strengthened financial base and increased ambitions in the international market.” Founded in 1850, this company located near Grenoble positions itself as “the leader in France in the design and manufacture of high-value-added paper, cardboard, and fiber materials machines.” Indeed, Allimand produces machines and complete lines for the paper and nonwovens markets. The group has two subsidiaries (in China and the United States) as well as a pilot line (in the United States).
Approved by the Grenoble Commercial Court on April 4, 2023, the safeguard plan was made possible thanks to Arcole’s* acquisition of a stake in the company and its financial and operational support. Arcole then implemented a new governance structure under the leadership of Patrick Gamet (photo). The new management defined and implemented an ambitious restructuring plan, including process optimization, a commercial revitalization plan, the implementation of new management tools, and strategic investments to ensure the company’s redeployment. Clear communication was also established both internally and with customers and suppliers. As a result, Allimand returned to profitability, while maintaining and creating more than 160 jobs in its region and revitalizing its business through strategic commercial partnerships and innovative initiatives. “
This recovery is a source of immense pride for us and for the entire Allimand team,” said Alexandre Bachelier, Co-Founding Partner of Arcole and President of Allimand, and Patrick Gamet, Managing Director of Allimand. “We saved an SME that, despite its difficulties, boasted exceptional industrial expertise that deserved to be preserved. Seeing Allimand regain its growth momentum gives meaning to our daily commitment. The complementarity and trust between us were essential drivers of this transformation. This new chapter opens up great prospects for the company and its employees.”
V. L.
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(*) An independent asset management company, Arcole manages funds that support French SMEs and mid-caps with strong growth prospects and which generate between €10 million and €250 million in revenue. Arcole was founded by the former directors of the investment holding company Arcole Industries, a long-standing player in French investment since 2009.
Photo : Allimand
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